PIMCO Municipal Income Fund II (NYSE:PML) Stock Crosses Above Fifty Day Moving Average of $8.58

PIMCO Municipal Income Fund II (NYSE:PML)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.58 and traded as high as $8.78. PIMCO Municipal Income Fund II shares last traded at $8.77, with a volume of 90,736 shares trading hands.

PIMCO Municipal Income Fund II Price Performance

The business’s fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.48.

PIMCO Municipal Income Fund II Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, August 12th. This represents a $0.48 dividend on an annualized basis and a yield of 5.47%. This is a positive change from PIMCO Municipal Income Fund II’s previous monthly dividend of $0.04.

Hedge Funds Weigh In On PIMCO Municipal Income Fund II

A number of institutional investors have recently added to or reduced their stakes in the company. Gridiron Partners LLC bought a new stake in shares of PIMCO Municipal Income Fund II in the 4th quarter worth about $4,503,000. Van ECK Associates Corp grew its position in shares of PIMCO Municipal Income Fund II by 62.2% during the 4th quarter. Van ECK Associates Corp now owns 427,109 shares of the investment management company’s stock valued at $3,545,000 after buying an additional 163,712 shares during the last quarter. Ellis Investment Partners LLC grew its position in shares of PIMCO Municipal Income Fund II by 2.0% during the 2nd quarter. Ellis Investment Partners LLC now owns 406,084 shares of the investment management company’s stock valued at $3,464,000 after buying an additional 7,849 shares during the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of PIMCO Municipal Income Fund II during the 2nd quarter valued at about $3,424,000. Finally, Envestnet Asset Management Inc. grew its position in shares of PIMCO Municipal Income Fund II by 3.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 313,865 shares of the investment management company’s stock valued at $2,677,000 after buying an additional 11,602 shares during the last quarter.

About PIMCO Municipal Income Fund II

PIMCO Municipal Income Fund II is a closed ended fixed income mutual fund launched and managed by Allianz Global Investors Fund Management LLC. The fund is co-managed by Pacific Investment Management Company LLC. It invests in fixed income markets. The fund invests in stocks of companies operating across diversified sectors.